Danielle was a guest with Jim Goddard on Talk Digital Network talking of about recent developments in the world economy and market. You can listen to an audio clip of the segment here.
For more see FT Global freight slides near recession levels:
The US Cass Freight Index fell for the seventh month in June and is now down 5.3pc over the past year. “More and more data are indicating that this is the beginning of an economic contraction,” said the June report by Cass Information Systems.
The freight group said the slowdown has been building for months and can no longer be explained by one-off distortions. It said the shipments are a reliable leading indicator of future manufacturing and construction. Declining volumes on this scale suggest that the US economy is heading for negative GDP readings as soon as this quarter. This would hit equity markets like a thunderclap.
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Cory’s Chart Corner
Load MoreMany will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
BREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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